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19 Mar 2014
GBP/JPY rises back above 168.00, still under pressure
FXStreet (Córdoba) - The GBP/JPY remains steady in Asia, moving in ranges with resistance below 168.50 and support at 168.10. The Yen is slightly lower across the board so far on Wednesday as stocks in Japan opened in positive territory with the Nikkei 225 up 0.25% in the first minutes.
On Tuesday the GBP/JPY posted the lowest daily close since in a month and fell for the sixth time out of the last seven trading days, hitting a fresh March low at 167.77. Afterwards, on American hours managed to recover to finish above 168.00.
Cable continues under pressure in the market ahead of a busy Wednesday with the release of the employment report in the UK, the minutes of the Bank of England and the budget presentation.
On Tuesday the GBP/JPY posted the lowest daily close since in a month and fell for the sixth time out of the last seven trading days, hitting a fresh March low at 167.77. Afterwards, on American hours managed to recover to finish above 168.00.
Cable continues under pressure in the market ahead of a busy Wednesday with the release of the employment report in the UK, the minutes of the Bank of England and the budget presentation.